Central Ohio Housing Report — May 2025

COLUMBUS, Ohio (June 23, 2025) — The housing market in central Ohio showed signs of rebalancing in May, thanks to increased inventory and steady interest from buyers. While closed sales remained nearly identical to those in 2024, the significant change continues to be an influx of new listings, which have given buyers the choices they have been lacking in recent years.

Last month, total inventory rose to 4,432 homes, and in May, there was a 10% increase to 4,828 single-family homes and condominiums on the market. Year over year, inventory is up 36% in the region, continuing a trend that began last year.

“The home seller is the story of the summer so far,” said Columbus REALTORS® President Buffie Patterson. “Our inventory growth has given buyers more choices, but we’re seeing buyers move at a more traditional pace. The urgency buyers felt in years past is gone, and that’s a good thing for a more stable, sustainable market.”

The average number of days on market climbed to 28 days in May, a 27% increase from the 22-day average in May 2024. While this marks a shift toward a more balanced market, it’s important to note that homes are still selling quickly by historical standards.

Central Ohio recorded 2,835 closed sales in May, down only 0.1% compared to the same period last year. Additionally, 3,192 homes went under contract, reflecting a 0.4% increase.

The median sales price has increased by 1.7% to $335,500, and homes are selling on average at the asking price.

What’s keeping some buyers on the sidelines? Most eyes turn to mortgage rates, which have settled in around 7% on a 30-year fixed-rate loan in recent weeks.

“With rates where they are, that can impact the housing market in many ways,” explained Patterson. “Builders are not as motivated to develop, potential sellers feel locked into their lower rates, and conversely, potential buyers have less buying power.”

In the local area spotlight, Columbus proper and the Columbus City School District together accounted for 50% of the closings in the region (1,407 closed sales).

The Columbus & Central Ohio Regional Multiple Listing Service (MLS) serves all of Franklin, Delaware, Fairfield, Fayette, Hocking, Licking, Madison, Marion, Morrow, Perry, Pickaway, and Union Counties and parts of Athens, Champaign, Clark, Clinton, Knox, Logan, Muskingum, and Ross counties.

Our May Housing Report video will be available on our YouTube page soon!